The vape market has recently received a slowdown in the news, but even so, the industry has been making impressive growth so far. Tilray, having a large presence in the cannabis industry, wants to make the most of this trend in the Canadian cannabis 2.0 market.
It was at the end of 2019 that the recreational cannabis market in Canada decided to expand the type of products that consumers can enjoy marijuana from, including cannabis-infused products and the increasingly popular vape products. A clear example has been given in British Columbia, where a more than 125% increase in sales was recorded compared to the first quarter of last year. Tilray is one of the licensed producers with a presence in Canada and the US that is highly leveraged in the vaporizer market and therefore has a great opportunity to benefit from this recent growth.
The US is also no slouch with respect to the opportunity of this new market, especially due to the large population and the constant legalization that makes vape devices permissible as well. From California to Colorado, there are several states on the west coast of the US with a large vaporizer market. Many experts predict that Tilray will make use of all its strategic power to become one of the leaders in this sector and thus gain even greater profits.
Specialists say that the diversity of vaping in the US is an attractive aspect of the vertical and that makes the market be watched closely to see how it will behave in the coming years. Tilray is a company that has proven to excel in any area it wishes to be involved in, so it has been no surprise to see how its revenues have been steadily increasing after it decided to embark on its journey in vaporizing products, providing the most sophisticated options, satisfying the needs of enthusiasts who prefer this style of consumption.